Refurbishment involves restoring equipment to its original condition
without altering any of the product's specifications. The process
ensures maintenance of the safety and efficacy of the medical equipment
without altering its performance. Therefore, refurbishment varies from
the replacement of worn parts to cosmetic changes to complete the
end-to-end manufacturing process. Usually, the replacement cycle depends
on the agreement between vendor and end-user. For most refurbished
medical devices, the replacement is done after 3-5 years and depends on
the working condition of the device.

The global refurbished medical devices market to grow at a CAGR of 7.39%
during the period 2016-2020.

Global Refurbished Medical Devices Market 2016-2020, has been prepared
based on an in-depth market analysis with inputs from industry experts.
The report covers the market landscape and its growth prospects over the
coming years. The report also includes a discussion of the key vendors
operating in this market.

According to the report, one of the key drivers for market growth will
be rise in privatization in healthcare sector. Privatization is usually
profit driven, and the management has autonomous control over the
quality and pricing of the procedures performed. Along with
privatization, the demand for high standards of treatment has increased
leading to the procurement of advanced devices for patient treatment was
observed.

Many healthcare institutions like hospitals and diagnostic centers have
purchased high-cost equipment at a relatively lower price in the form of
refurbished devices. Most of them included diagnostic equipment, few to
quote such as X-ray, CT, and MRI machines. The refurbished devices
enabled these healthcare institutions to equip fully with various costly
devices. The equipping of devices by those institutions move ahead of
their competitors by providing a wide range of services to patients at
low cost.

Key questions answered in this report

What will the market size be in 2020 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?